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Home , Baltimore, Center Stage (theater), Harborplace, Maryland, Port Discovery (museum)

Brief Economic Facts CITY,

New Yo rk Baltimore is centrally located in the Mid- region with easy access via , DC

highways, port, rail and air travel, which Baltimore makes the city highly attractive to both residents and businesses. Baltimore has six key industry sectors that present Washington, DC further growth opportunities – financial and professional services, health and Baltimore City is located 39 bioscience technology, culture and tour- miles north of the U.S. capital, ism, information and creative services, Washington, D.C., and 97 miles logistics, and advanced . south of . Approximately 2.8 million people live in Baltimore and its surrounding region. Major businesses located in the city include , business and industrial parks. Baltimore is home to 12 colleges Pandora Americas, , and Morgan Stanley. and universities, providing an abundance of intellectual and The City’s private sector industries generate $36.7 billion in workforce talent. economic output. The and Foreign-Trade Zone #74 (FTZ) are More than 60 federal agencies and research labs are within 30 also significant economic engines for the region. The Port of miles, bringing substantial federal spending and jobs to the city. Baltimore is the number one roll-on/roll-off port in the U.S., University and Hospital is the largest recipient and FTZ #74 is a non-contiguous duty free with more than of federal academic research dollars. The City has two state- 1,200 acres. These assets provide great benefits for conducting of-the-art biotechnology parks, as well as numerous other business globally.

LOCATION POPULATION2,3 Driving distance from Baltimore: Miles Kilometers Baltimore City Baltimore , 658 1,059 Households Population Metro* Maryland , 397 639 2000 257,996 651,154 2,552,994 5,296,486 , 688 1,108 2010 249,903 620,961 2,710,489 5,773,552 , New York 186 299 2020** 254,259 616,300 2,851,100 6,141,900 Philadelphia, 97 156 *Baltimore City, Anne Arundel, Baltimore, Carroll, Harford, Howard and , Pennsylvania 225 362 Queen Anne’s **Projections Richmond, 144 232 Washington, DC 39 63 POPULATION DISTRIBUTION2,3 (2018) CLIMATE AND GEOGRAPHY1 Age Number Percent Under 5 37,992 6.3 Yearly (inches) 41.7 5 - 19 101,677 16.9 Yearly Snowfall (inches) 20.2 Summer Temperature (ºF) 77.5 20 - 44 231,882 38.5 Winter Temperature (ºF) 37.8 45 - 64 146,557 24.3 Days Below Freezing 66.2 65 and over 84,387 14.0 Land Area (square miles) 80.3 Total 602,495 100.0 Water Area (square miles) 11.7 Median age 35.6 years Shoreline (miles) 61 Elevation (feet) sea level to 480

2019.2

Brief Economic Facts BALTIMORE CITY, MARYLAND

LABOR AVAILABILITY3,4,5 (BY PLACE OF RESIDENCE) EMPLOYMENT4 (2018, BY PLACE OF WORK) Labor Mkt. Estab- Annual Avg. Emp. Avg. Wkly. Civilian Labor Force (2018 avg.) City Area* Industry lishments Empl. % Wage Total civilian labor force 289,758 1,233,616 Federal government 78 10,595 3.1 $1,678 Employment 273,304 1,183,088 State government 123 34,198 9.9 1,254 Unemployment 16,454 50,528 Local government 220 23,883 6.9 1,225 Unemployment rate 5.7% 4.1% Private sector 13,275 275,293 80.0 1,253 Residents outside the Number Percent Natl. resources and 4 8 0.0 639 city to work (2013-2017) 104,631 38.3% Construction 762 11,068 3.2 1,314 Employment in selected occupations (2013-2017) Manufacturing 430 10,806 3.1 1,176 Management, business, science and arts 117,106 42.1% Trade, transportation 2,772 41,374 12.0 1,055 Service 57,638 20.7% and utilities Sales and office 60,717 21.8% Information 206 4,234 1.2 1,799 Production, transp. and material moving 27,679 10.0% Financial activities 1,275 16,267 4.7 2,928 * Baltimore City and Anne Arundel, Baltimore and Howard counties Professional and business 2,660 47,510 13.8 1,284 services Education and health 1,773 103,829 30.2 1,267 MAJOR EMPLOYERS6,7 (2018-2019) services Employer Product/Service Employment Leisure and hospitality 1,753 29,547 8.6 595 & Medical services 20,485 Other services 1,633 10,647 3.1 815 Health System* Total 13,969 343,970 100.0 1,264 Higher education 18,600 Includes civilian employment only University of Maryland Medical services 11,450 Medical System* Univ. System of Maryland** Higher education 8,965 HOURLY WAGE RATES4 (2018) MedStar Health* Medical services 6,175 Selected Occupations Median Entry Experienced LifeBridge Health* Medical services 5,315 Accountants $33.42 $24.02 $42.43 Amazon.com Fulfillment center 4,500 Biological technicians 20.13 15.86 24.82 Mercy Health Services Medical services 4,030 Bookkeeping/accounting clerks 21.58 16.28 24.85 St. Agnes HealthCare Medical services 3,265 Computer systems analysts 43.14 29.77 51.42 Exelon Energy products, svcs. 2,950 Customer service representatives 17.46 12.86 20.93 Kennedy Krieger Institute Health services 2,600 Electrical engineers 55.08 32.98 70.03 Maryland Inst. College of Art Higher education 2,140 Electronics engineering technicians 33.58 23.26 34.88 Veterans Health Admin.*+ Medical services 2,060 Freight, stock and material 14.36 10.67 22.35 FutureCare Nursing care 1,710 movers, hand Higher education 1,700 Industrial truck operators 18.07 13.89 21.31 U.S. Social Security Admin.+ Income security prog. 1,600 Inspectors, testers, sorters 19.76 12.27 25.58 H&S Bakery Commercial food prods. 1,575 Maintenance workers, machinery 22.39 14.11 25.99 Under Armour HQ / athletic apparel 1,575 Network administrators 46.65 33.23 56.02 Broadway Services Support services mgmt. 1,540 Packaging and filling machine 14.47 9.84 16.13 operators Horseshoe Casino Casino gaming 1,360 Packers and packagers, hand 13.02 11.03 14.39 Loyola University Maryland Higher education 1,360 Secretaries 19.64 14.42 22.57 T. Rowe Price Group HQ / financial services 1,300 Shipping/receiving clerks 16.35 12.38 19.90 Excludes post offices, state and local governments, national retail and national foodservice; includes higher education Stock clerks and order fillers 11.41 10.24 14.61 * Includes multiple facilities Team assemblers 13.68 11.29 16.20 ** Includes UMB, UB and + Employee counts for federal and military facilities exclude contractors to the Wages are an estimate of what workers might expect to receive in Baltimore extent possible; embedded contractors may be included City and may vary by industry, employer and locality

Brief Economic Facts BALTIMORE CITY, MARYLAND

SCHOOLS AND COLLEGES3,8 INCOME3 (2013-2017) Educational Attainment - age 25 & over (2013-2017) Percent Households High school graduate or higher 84.2% Distribution Baltimore City Maryland U.S. Bachelor’s degree or higher 30.4% Under $25,000 29.5 14.2 21.3 Public Schools $25,000 - $49,999 23.2 17.1 22.5 Number: 39 elem.; 64 middle/combined; 20 high; 34 charter $50,000 - $74,999 16.8 16.5 17.7 Enrollment: 79,297 (Sept. 2018) $75,000 - $99,999 10.5 13.1 12.3 Cost per pupil: $15,376 (2017-2018) $100,000 - $149,999 10.9 18.7 14.1 Students per teacher: 16.1 (Oct. 2018) $150,000 - $199,999 4.5 9.7 5.8 High school career / tech enrollment: 9,514 (2017) $200,000 and over 4.6 10.7 6.3 High school graduates: 4,108 (July 2018) Median household $46,641 $78,916 $57,652 Nonpublic Schools Number: 125 (Sept. 2018) Average household $68,623 $103,845 $81,283 Higher Education (2018) Enrollment Degrees Per capita $28,488 $39,070 $31,177 2-year institution Total income (millions) $16,455 $226,495 $9,658,475 Baltimore City Community College 4,557 443 Major 4-year institutions 3,10 Coppin State University 2,738 479 HOUSING Johns Hopkins University 26,152 8,377 Occupied Units (2013-2017) 239,791 (47.4% owner occupied) Loyola University Maryland 5,645 1,699 Housing Transactions (2018)* Maryland Institute College of Art 2,181 572 Units sold 8,450 Morgan State University 7,712 1,475 Median selling price $139,723 Notre Dame of Maryland University 2,373 613 *All multiple listed properties; excludes auctions and FSBO 5,041 1,454 University of Maryland, Baltimore 6,777 2,221 BUSINESS AND INDUSTRIAL PROPERTY6 Business and Industrial Parks TAX RATES9 Cross Roads Business Park Carroll Camden Industrial Park Baltimore City Maryland Hollander 95 Business Park Commerce Center Seton Business Park Johns Hopkins Bayview Corporate (2019) none 8.25% Holabird Business Park Research Campus Base – federal taxable income Park Circle Business Park Personal Income Tax (2019) 3.20% 2.0%-5.75% * Biotechnology Parks Base – federal adjusted gross income Science + Technology Park at Johns Hopkins – 20 acres *Graduated rate peaking at 5.75% on taxable income over $300,000 University of Maryland BioPark – 12 acres Sales & Use Tax (2019) none 6.0% Business Incubators Maker Spaces Exempt – sales for resale; manufacturer’s of materials; Baltimore Food Hub Baltimore Hackerspace manufacturing machinery and equipment; purchases of materials and Betamore Baltimore Node equipment used in R&D and testing of finished products; purchases BioInnovation Center Open Works of computer programs for reproduction or incorporation into BMore Kitchen another computer program for resale Emerging Tech. Centers (ETC) Real (FY 20) $2.248 $0.112 FastForward Effective rate per $100 of assessed value Launch at IMET In addition to this rate, there are some miscellaneous taxes and/or LifeBridge BioIncubator special taxing areas in the city Market Profile Data(2018) Low High Average Business Personal Property Tax (FY 20) $5.62 none Land – cost per square foot Rate per $100 of depreciated value Exempt – manufacturing and R&D machinery, equipment, materials Industrial $6.75 $200.00 $39.73 and supplies; manufacturing, R&D and warehousing inventory Office NA NA NA Major Tax Credits Available Rental Rates – per square foot One Maryland, Enterprise Zone (including Focus Area), Warehouse / Industrial $1.01 $21.50 $6.50 Job Creation, More Jobs for Marylanders (Tier 1), R&D, Flex / R&D / Technology $1.00 $23.00 $10.90 Biotechnology and Cybersecurity Investment, Brownfields, Arts & Entertainment Class A Office $20.77 $26.26 $22.83

Brief Economic Facts BALTIMORE CITY, MARYLAND

TRANSPORTATION UTILITIES Highways: I-70, I-83, I-95, I-395, I-695, I-895, U.S. 40, MD 295 Electricity and Gas: Baltimore Gas and Electric; customers of (Baltimore-Washington ) – a total of 32 primary investor-owned utilities and major cooperatives may choose roadway miles their electric and gas suppliers Mass Transit: MARC linking Baltimore with Water and Sewer: Baltimore City Bureau of Water and Washington, D.C.; light rail connections to BWI airport, Wastewater northern and southern metro , and industrial parks; Telecommunications: Primary local carrier is Verizon Maryland; Metro () connections from northwest suburbs directly Verizon and other major telecommunication providers offer to Johns Hopkins medical campus; BaltimoreLink bus service state-of-the-art services to businesses in Baltimore City within the city and to surrounding metropolitan counties; private bus service to rest of state, other major cities Rail: Freight - CSX Transportation, , ; Passenger - Truck: More than 120 local and long-distance trucking GOVERNMENT11 establishments serve the City Baltimore is an and the only city in Maryland Water: Port of Baltimore–50’ dredged channel, Neo-Panamax not located within a . Class capability, seven public terminals, Intermodal Container Government: Mayor and 15-member city council elected Transfer Facility, and passenger/tourism cruise facility for four-year terms; charter form of government allows for Air: Baltimore/Washington International the separation of the executive from the legislative branch; Airport (BWI)–5 concourses (4 domestic, 1 international/ lawmaking powers are vested in an elected legislative body swing); 70 jet gates, 2 gates dedicated to commuter aircraft; 5 Bernard C. (Jack) Young, Mayor 410.396.3100 scheduled cargo airlines; 395,000 sf Air Cargo Center includes Brandon M. Scott, President, City Council 410.396.4804 a 60,000 sf cargo building in the Midfield Cargo Complex; Website: www.baltimorecity.gov Foreign Trade Zone; 17-acre air cargo ramp; ramp parking for City Bond Rating: AA (S&P); Aa2 (Moody’s) 17 aircraft with direct nose-in access for 8 freighters Baltimore Development Corporation (BDC) Colin Tarbert, President and CEO 36 South Charles Street, Suite 2100 RECREATION AND CULTURE Baltimore, Maryland 21201 Sports and Recreation: Orioles (MLB), Ravens (NFL), Baltimore Telephone: 410.837.9305 Blast (Major Arena Soccer League); Pimlico Racetrack (home Email: [email protected] to the ), Horseshoe Casino Baltimore, the Maryland www.baltimoredevelopment.com Zoo in Baltimore, boating in the and Chesapeake EconView - the City’s interactive mapping tool developed Bay to real estate, neighborhood, and public investment Cultural: , , throughout Baltimore City American Visionary Art Museum, Maryland Historical Society, cityview.baltimorecity.gov/econview B&O Railroad Museum, Baltimore Streetcar Museum, National Great Blacks in Museum, Baltimore Museum of Industry, Sources: Reginald F. Lewis Museum of African American History and 1 National Oceanic and Atmospheric Administration (1981-2010 normals); Culture, Museum, Baltimore Symphony Orchestra, Maryland Geological Survey Modell Performing Arts Center at the Lyric, Hippodrome at 2 Maryland Department of Planning the France-Merrick Performing Arts Center, Everyman Theatre, 3 U.S. Bureau of the Census , Chesapeake Shakespeare Company, numerous 4 Maryland Department of Labor, Office of Workforce Information and other venues, events, and festivals Performance Arts & Entertainment : Bromo Tower, Highlandtown, 5 U.S. Bureau of Labor Statistics Station North, Black A&E District 6 Baltimore Development Corporation Historical: Fort McHenry, , Edgar Allan ’s 7 Maryland Department of Commerce grave, Babe Ruth’s birthplace, , U.S.S. 8 Maryland State Department of Education; Maryland Higher Education Constellation, Fells Point Commission 9 Maryland State Department of Assessments and Taxation; Comptroller of the Inner Harbor Attractions: National Aquarium, Maryland Science Treasury Center, , Pier Six Pavilion, , 10 Maryland Association of Realtors Port Children’s Museum, and the 11 ; Maryland Association of Counties Gallery, Power Plant, and Power Plant Live!